Comment by kevthecoder

There's some work going on at the Metaverse Standards Forum to progress these ideas with Web of Worlds (https://webofworlds.github.io/). It's scope is a lot broader than VRML, it covers assets, identity, avatars, payments, etc.

There's a link to the presentation at SIGGRAPH - https://youtu.be/N2_lb77gKQ8.